Michael Burry Says SpaceX Isn't Worth $1 Trillion. Its AI Business Could Prove Him Wrong.
Yahoo Finance ·
Before Space Exploration Technologies ( SPCX -1.67% ) went public in the largest debut in history at $1.8 trillion, Michael Burry of "The Big Short" fame argued that nothing in its IPO filing justified even a $1 trillion valuation. Weeks later, he called the company a combination of a small space business, a niche telecom business, a struggling social media platform, and " CoreWeave -light," referring to the heavily indebted but fast-growing neocloud operator. Burry's message was clear: SpaceX's businesses didn't come close to supporting its valuation.
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